Australia's Tyro Payments rises on $6.5 mln settlement deed with Kounta

Tyro Payments

16/02/2024 03:39

** Shares of Tyro Payments  TYR.AX  rise as much as 4.8% to
A$1.21, set for their best day since Jan. 24 if gains hold 
    ** Payments terminal firm enters into settlement deed with
accounting software developer Kounta 
    ** Kounta had appealed against a court ruling that found it
broke its obligations to Tyro by offering a competing product to
Tyro merchants
    ** Settlement includes dismissal of appeal and Kounta to pay
A$10 mln ($6.51 mln) in damages to co     
    ** Tyro stock up 4.5% this year, as of last close

($1 = 1.5354 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))